- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
- Age: 25 years - 65 years
- Credit Score: N.A.
- Employment Type: Self Employed
- Minimum Turnover: Rs.40 lakhs
- Business Stability: Minimum 1 year of generating profits and 3 years of
being in business
- Other requirements: The applicant must be a Private Ltd. Company/
Partnership Firm/ Sole Proprietor/ LLP/ Trust of a business in Trading/
- Identity Proof: PAN, Aadhaar, Passport, Driving Licence, or Voter ID Card.
- Residence Proof: Leave and Licence Agreement, Passport, or Utility Bill.
- Ownership Proof: Utility Bill, Agreement Copy, Municipal tax bill, Maintenance bill with the Share Certificate, or the Share Certificate.
- Continuity Proof: Service Registrations, Tax Registrations, Shop and Establishment certificate
- GST Registration Certificate/ Partnership Deed/ MOA
- The Latest Tax Audit Report
- Latest 6 months’ bank statement.
The process of loan verification takes place in the following steps.
- Fill the application form for Kotak Mahindra Bank business loan and upload it with the required documents.
- The bank verifies the documents to check the eligibility of the application.
- On approval, the loan amount is immediately disbursed into the bank account of the applicant.
Kotak Mahindra Bank offers Business Loans at competitive interest rates from 16% depending on different factors as listed below.
- CIBIL Score
- Loan amount
- Years of business experience
- Monthly revenue